Credit Officer, Global Wealth & Investment Management
About the role
The GWIM Credit Product Specialist/Credit Officer plays a crucial role in identifying and delivering credit opportunities to Financial Advisors' wealth management clients and prospects. This position involves developing and supporting strategies to enhance the understanding of GWIM's credit solutions among clients and advisors, and ensuring the seamless delivery of these solutions through a high-touch advisor/client experience.
Responsibilities
- Develop and support strategies to identify and deliver credit opportunities to Financial Advisors' wealth management clients and prospects.
- Ensure wealth management clients are knowledgeable of the Bank's full suite of GWIM credit solutions.
- Work with Financial Advisors, Wealth Management Clients, GWIM Custom Lending Credit Advisors, and GWIM Credit leadership to establish and expand new credit relationships.
- Support and expand existing GWIM credit relationships with the aim of generating balance and revenue growth with appropriate risk-adjusted returns.
- Collaborate with Underwriting and Risk teams to negotiate loans, including securities-based loans, commercial real estate loans, recreational real estate loans, hedge fund loans, fine art loans, yacht loans, unsecured loans, and other miscellaneous loans.
- Conduct financial analysis, including ratio analysis, DSC analysis, and collateral evaluations, to assess the viability of loan opportunities.
- Assess existing portfolio of loans to ensure compliance with financial covenants, resolve margin calls, and manage debt service failures.
- Work with Financial Advisors, Wealth Management Clients, GWIM Custom Lending Credit Advisors, and GWIM Credit leadership to meet objectives of establishing new credit relationships and growing lending business.
Requirements
- 3 years of progressively responsible experience in the job offered or a related finance/banking occupation.
- Bachelor’s degree or equivalent in Finance, Business Administration, Financial Economics, or related field.
- Prefer 3 years of experience in each of the following:
- Marketing and selling Private Wealth credit solutions with a goal to engage and influence audience behavior to address the lending needs of clients.
- Cultivating relationships with clients and Financial Advisors to identify credit opportunities and grow lending business.
- Negotiating with Underwriting and Risk on behalf of the client to structure sound loans including securities based loans, Commercial real estate loans, Recreational real estate loans, Hedge Fund loans, Fine Art loans, Yacht loans, Unsecured loans, and other miscellaneous loans.
- Conducting financial analysis including ratio analysis, DSC analysis, and collateral evaluations to determine viability of loan opportunities.
- Assessing existing portfolio of loans ensuring compliance with financial covenants and reporting, resolving margin calls, and debt service failures.
Qualifications
- Attention to Detail
- Business Development
- Loan Structuring
- Portfolio Management
- Relationship Building
- Active Listening
- Analytical Thinking
- Client Management
- Customer and Client Focus
- Profitability Analysis
- Collaboration
- Financial Forecasting and Modeling
- Pipeline Management
- Sales Performance Management
- Sales Strategy
Skills
- Attention to Detail
- Business Development
- Loan Structuring
- Portfolio Management
- Relationship Building
- Active Listening
- Analytical Thinking
- Client Management
- Customer and Client Focus
- Profitability Analysis
- Collaboration
- Financial Forecasting and Modeling
- Pipeline Management
- Sales Performance Management
- Sales Strategy
Benefits
Bank of America offers a comprehensive benefits package designed to support the physical, emotional, and financial wellness of our teammates. This includes a range of health, wellness, and financial benefits, as well as flexible work arrangements to help you achieve a healthy work-life balance.
Pay
Competitive compensation and benefits package tailored to individual performance and contributions.
Schedule
Full-time position with a standard 40-hour workweek.